Regulatory Intelligence
AI-maintained daily updates on crypto regulations worldwide. Newest first — page 8 of 42.
Best practice and risk mitigation measures include screening against the OFAC SDN List, the EU Consolidated List, and...
Best practice and risk mitigation measures include screening against the OFAC SDN List, the EU Consolidated List, and other major national sanctions lists (e.g., UK Sanctions List) AML/CFT Act
At present, there are no specific sanctions lists created by the Gambian government that target individuals or entiti...
At present, there are no specific sanctions lists created by the Gambian government that target individuals or entities solely for crypto-related activities AML/CFT Act
No specific monetary penalty has been levied against a named entity for cryptocurrency-related activities in The Gamb...
No specific monetary penalty has been levied against a named entity for cryptocurrency-related activities in The Gambia; the "penalty" for regulated financial institutions would be regulatory sanctions, including potential license revocation, for failing to adhere to CBG directives CBG Warning
The CBG's public warnings serve as a primary preventative measure against potential illicit activities and consumer h...
The CBG's public warnings serve as a primary preventative measure against potential illicit activities and consumer harm, rather than imposing direct fines on crypto firms CBG Warning
There is no dedicated legislation in place to regulate or license Virtual Asset Service Providers (VASPs), which make...
There is no dedicated legislation in place to regulate or license Virtual Asset Service Providers (VASPs), which makes direct enforcement against them challenging under the current legal framework CBG Warning
The Central Bank prioritizes financial stability and consumer protection by discouraging participation in the unregul...
The Central Bank prioritizes financial stability and consumer protection by discouraging participation in the unregulated crypto market through public advisories CBG Warning
Similar reports from other local media often echo this consistent warning from CBG, and official press releases regar...
Similar reports from other local media often echo this consistent warning from CBG, and official press releases regarding specific enforcement actions against crypto firms are not publicly available CBG Warning
Anti-Money Laundering Act of 2020 (AML Act) The U.S. Congress passed this act directing FinCEN and agencies to mo...
Anti-Money Laundering Act of 2020 (AML Act) The U.S. Congress passed this act directing FinCEN and agencies to modernize AML/CFT regulatory frameworks. While not directly applicable to Guinea, it reflects international momentum for AML reform. NCUA
GIABA Requirements As a GIABA member, Guinea is expected to adopt FATF standards into its national legal and regu...
GIABA Requirements As a GIABA member, Guinea is expected to adopt FATF standards into its national legal and regulatory framework. Failure to comply could result in being placed on FATF's grey list, impacting international financial relations. GIABA
Enforcement Capacity CENTIF's operational capacity and track record of enforcement actions are not documented in ...
Enforcement Capacity CENTIF's operational capacity and track record of enforcement actions are not documented in the provided sources. GIABA mutual evaluation reports would provide more detailed analysis of Guinea's AML/CFT effectiveness and enforcement gaps. GIABA
No Specific VASP Regulations As of available sources, Guinea has not yet enacted specific regulations addressing ...
No Specific VASP Regulations As of available sources, Guinea has not yet enacted specific regulations addressing virtual asset service providers (VASPs) separately from general AML/CFT obligations. The FATF Travel Rule (Recommendation 16) has not been explicitly adopted for VASPs in Guinea's framework. GIABA
Prohibition on Making Funds Available: It is prohibited to make funds or economic resources directly or indirectl...
Prohibition on Making Funds Available: It is prohibited to make funds or economic resources directly or indirectly available to, or for the benefit of, listed individuals or entities EUR-Lex. Specific EU Council Regulations include Regulation (EU) 269/2014 (Russia sanctions) and Regulation (EU) 36/2012 (Syria sanctions).
Reporting: Entities are required to report frozen assets and provide information to competent national authoritie...
Reporting: Entities are required to report frozen assets and provide information to competent national authorities in EU member states EU Sanctions Map. Notification must typically occur within 2-5 business days depending on member state.
EU Penalties: Penalties vary by EU member state but typically include significant fines, imprisonment, and asset ...
EU Penalties: Penalties vary by EU member state but typically include significant fines, imprisonment, and asset confiscation EUR-Lex. For example, Germany imposes fines up to €5 million under Section 89 of the Foreign Trade and Payments Act (AWG). France under Code monétaire et financier imposes up to 5 years imprisonment. The EU's 6th AML Directive (EU 2018/843) requires member states to apply criminal penalties for sanctions violations.
FATF Guidance for Virtual Assets and VASPs: The 2021 updated guidance provides specific recommendations for sanct...
FATF Guidance for Virtual Assets and VASPs: The 2021 updated guidance provides specific recommendations for sanctions screening of virtual asset transactions FATF Guidance for Virtual Assets. This includes the "travel rule" (Recommendation 16) requiring VASPs to share originator and beneficiary information for virtual asset transfers.
Risk-Based Approach: Assess sanctions risks associated with their business model, customer base, and geographic p...
Risk-Based Approach: Assess sanctions risks associated with their business model, customer base, and geographic presence OFAC Compliance Framework. This should include threat assessments, vulnerability assessments, and risk scoring.
Sanctions Screening: Continuously screen all customers, beneficial owners, and transaction counterparties against...
Sanctions Screening: Continuously screen all customers, beneficial owners, and transaction counterparties against the UN, OFAC (SDN, SSI, etc.), and EU consolidated sanctions lists OFAC Compliance Framework. Screening should include fuzzy matching algorithms and blockchain analytics tools.
Internal Controls: Develop written policies, procedures, and internal controls for sanctions compliance OFAC Comp...
Internal Controls: Develop written policies, procedures, and internal controls for sanctions compliance OFAC Compliance Framework. This includes annual independent testing/audits.
Training: Provide regular training to relevant staff on sanctions compliance OFAC Compliance Framework. Training ...
Training: Provide regular training to relevant staff on sanctions compliance OFAC Compliance Framework. Training should be role-specific and include updates on new sanctions designations.
EU Sanctions Map: https://www.sanctionsmap.eu/ (Provides an overview of current EU sanctions regimes)
EU Sanctions Map: https://www.sanctionsmap.eu/ (Provides an overview of current EU sanctions regimes)
Jurisdiction: OFAC sanctions apply broadly to all U.S. persons and entities globally, all transactions occurring ...
Jurisdiction: OFAC sanctions apply broadly to all U.S. persons and entities globally, all transactions occurring in whole or in part within the United States, entities owned or controlled by U.S. persons, and in some cases, non-U.S. persons if their activities have a nexus to the U.S. financial system or involve designated persons (secondary sanctions) OFAC Virtual Currency Guidance
Compliance for VASPs: Virtual Asset Service Providers must implement robust, risk-based sanctions compliance prog...
Compliance for VASPs: Virtual Asset Service Providers must implement robust, risk-based sanctions compliance programs including KYC/CDD, sanctions screening against OFAC's SDN List and other relevant lists, transaction monitoring, geographic restrictions, IP blocking and geo-fencing, and wallet address screening OFAC Virtual Currency Guidance
Key OFAC Resources: OFAC's Guidance for the Virtual Currency Industry (link), FAQs on Virtual Currency (link), an...
Key OFAC Resources: OFAC's Guidance for the Virtual Currency Industry (link), FAQs on Virtual Currency (link), and Sanctions Programs and Information (link)
Jurisdiction: EU sanctions apply to all EU nationals and entities wherever located, all transactions within EU te...
Jurisdiction: EU sanctions apply to all EU nationals and entities wherever located, all transactions within EU territory, and aircraft/vessels under EU Member State jurisdiction EU Sanctions Map
Compliance for VASPs: EU-regulated VASPs must comply with KYC/CDD under EU Anti-Money Laundering Directives (AMLD...
Compliance for VASPs: EU-regulated VASPs must comply with KYC/CDD under EU Anti-Money Laundering Directives (AMLDs), sanctions screening against the EU Consolidated Sanctions List, asset freezing obligations, and transaction monitoring EU Sanctions Map
Key EU Resources: EU Sanctions Map (link), EU Anti-Money Laundering Directives (e.g., 5th AMLD Directive (EU) 201...
Key EU Resources: EU Sanctions Map (link), EU Anti-Money Laundering Directives (e.g., 5th AMLD Directive (EU) 2018/843, 6th AMLD), and Council Regulations implementing specific sanctions regimes (e.g., Council Regulation (EC) No 2580/2001)
Compliance for VASPs: Member states must implement asset freezes preventing designated individuals from accessing...
Compliance for VASPs: Member states must implement asset freezes preventing designated individuals from accessing assets, travel bans, and arms embargoes. For VASPs, this translates to screening against the UN Consolidated Sanctions List and implementing asset freezes UN Security Council Consolidated List
Key UN Resources: UN Security Council Consolidated List (link), Specific UN Security Council Resolutions (e.g., U...
Key UN Resources: UN Security Council Consolidated List (link), Specific UN Security Council Resolutions (e.g., UNSCR 1267 concerning Al-Qaeda and ISIL sanctions)
Equatorial Guinea is NOT a comprehensively sanctioned jurisdiction by the UN, US, or EU. However, specific indi...
Equatorial Guinea is NOT a comprehensively sanctioned jurisdiction by the UN, US, or EU. However, specific individuals and entities connected to the government may be subject to targeted sanctions.
UN Sanctions: As a UN member state, Equatorial Guinea is obligated to implement UN Security Council resolutions, ...
UN Sanctions: As a UN member state, Equatorial Guinea is obligated to implement UN Security Council resolutions, including asset freezes and other restrictions on individuals and entities on the UN Consolidated Sanctions List UN Security Council Consolidated List
Extraterritorial US and EU Sanctions: If an Equatorial Guinean individual or entity interacts with the US or EU f...
Extraterritorial US and EU Sanctions: If an Equatorial Guinean individual or entity interacts with the US or EU financial systems (including crypto platforms subject to US/EU jurisdiction), they would fall under OFAC and EU sanctions compliance requirements OFAC Virtual Currency Guidance
Regional AML/CFT Frameworks: As a member of CEMAC (Central African Economic and Monetary Community), Equatorial G...
Regional AML/CFT Frameworks: As a member of CEMAC (Central African Economic and Monetary Community), Equatorial Guinea adheres to regional AML/CFT standards. While CEMAC's central bank (BEAC) has cautioned against cryptocurrencies due to risks, this has not translated into specific sanctions lists but rather general regulatory oversight or restrictions on financial institutions interacting with crypto FATF Guidance
Example: OFAC has imposed significant fines on crypto companies: BitGo ($93,000 in 2020), Kraken ($362,000 in 202...
Example: OFAC has imposed significant fines on crypto companies: BitGo ($93,000 in 2020), Kraken ($362,000 in 2022), and Bittrex ($24 million in 2022) OFAC Sanctions Programs
Monetary Sanctions May Be on the Rise as Courts Grapple With AI Hallucinations
Monetary Sanctions May Be on the Rise as Courts Grapple With AI Hallucinations
Penalties for Non-Compliance: The BEAC Regulation N°01/CEMAC/UMAC/CM includes provisions for sanctions agains...
Penalties for Non-Compliance: The BEAC Regulation N°01/CEMAC/UMAC/CM includes provisions for sanctions against CASPs that fail to comply with its requirements Global Legal Insights - Equatorial Guinea
Finding a direct, officially published, easily accessible English version of BEAC regulations online can sometimes be...
Finding a direct, officially published, easily accessible English version of BEAC regulations online can sometimes be challenging. However, the regulation itself is well-known and discussed in legal and financial circles operating in the region Global Legal Insights - Equatorial Guinea
Another relevant source discussing CEMAC/BEAC's regulatory landscape: Bloomberg Article on CEMAC Crypto Ban (While ...
Another relevant source discussing CEMAC/BEAC's regulatory landscape: Bloomberg Article on CEMAC Crypto Ban (While focusing on the ban, it acknowledges the regulatory framework being established)
Bloomberg Article on CEMAC Crypto Ban
Bloomberg Article on CEMAC Crypto Ban
EU regulatory frameworks like MiCA and DAC8 influence future tax interpretations but are not direct tax legislation A...
EU regulatory frameworks like MiCA and DAC8 influence future tax interpretations but are not direct tax legislation AADE Circular E. 2063/2023
No specific cryptocurrency license is required in Guatemala as of early 2026. The Superintendencia de Bancos de G...
No specific cryptocurrency license is required in Guatemala as of early 2026. The Superintendencia de Bancos de Guatemala (SIB) has consistently stated that virtual assets (activos virtuales) are not legal tender and are not under its supervision or regulation SIB Official Website. This position is reaffirmed in multiple SIB press releases, including Comunicado de Prensa 04/2021, which warns the public that cryptocurrencies are not regulated by the SIB SIB Press Releases.
If an exchange facilitates fiat-to-crypto or crypto-to-fiat transactions involving Guatemalan Quetzal (GTQ) or USD*...
If an exchange facilitates fiat-to-crypto or crypto-to-fiat transactions involving Guatemalan Quetzal (GTQ) or USD, the entity would likely fall under existing financial regulations governing money transmitters, payment service providers, or other financial intermediaries. In such cases, compliance with traditional financial licensing requirements from the SIB would be necessary SIB Regulatory Framework.
The applicable law is the Ley de Bancos y Grupos Financieros (Decree 19-2002), which regulates financial intermed...
The applicable law is the Ley de Bancos y Grupos Financieros (Decree 19-2002), which regulates financial intermediation activities. Entities engaging in money transmission must obtain authorization from the SIB as a financial institution SIB Banking Law.
No specific capital requirements for VASPs are stipulated in Guatemalan law. If the entity engages in activities ...
No specific capital requirements for VASPs are stipulated in Guatemalan law. If the entity engages in activities regulated by the SIB (e.g., traditional money remittance), then existing capital requirements for those specific financial activities would apply under the Ley de Bancos (minimum capital of Q60 million for banks, lower for other institutions) SIB Capital Requirements.
Application to VASPs: While the law does not explicitly mention "virtual assets" or "cryptocurrencies," it applie...
Application to VASPs: While the law does not explicitly mention "virtual assets" or "cryptocurrencies," it applies to "obligated entities" (e.g., banks, financial institutions, certain non-financial businesses). Indirect applicability means that if a VASP facilitates fiat-to-crypto or crypto-to-fiat transactions, the fiat portion of these transactions would be subject to existing AML/CFT requirements SIB AML Obligations.
FATF Recommendations: Guatemala is a member of the Financial Action Task Force of Latin America (GAFILAT), which ...
FATF Recommendations: Guatemala is a member of the Financial Action Task Force of Latin America (GAFILAT), which adheres to FATF recommendations. FATF Recommendation 15 calls for regulation of VASPs for AML/CFT purposes. While Guatemala has not fully implemented this recommendation for VAs, it is under international pressure to do so, and future legislation is likely to include specific VASP AML/CFT obligations GAFILAT Guatemala.
Definition of "Valor" (Security): The law defines a security broadly as any instrument that:
Definition of "Valor" (Security): The law defines a security broadly as any instrument that:
Investment Tokens/ICOs: Tokens issued during an ICO where purchasers expect profit from the issuer's project mana...
Investment Tokens/ICOs: Tokens issued during an ICO where purchasers expect profit from the issuer's project management would likely be deemed securities Decree 34-96 Art. 2.
The SIB has consistently issued public warnings about the risks of investing in or using cryptocurrencies. These are ...
The SIB has consistently issued public warnings about the risks of investing in or using cryptocurrencies. These are preventative measures, not enforcement actions against issuers SIB Press Releases.
The SIB is monitoring international developments, particularly FATF Recommendations, and may propose amendments to th...
The SIB is monitoring international developments, particularly FATF Recommendations, and may propose amendments to the Ley contra el Lavado de Dinero to explicitly include VASPs GAFILAT Guatemala.
SIB Banking Law (Decree 19-2002)
SIB Banking Law (Decree 19-2002)
Guyana currently has no specific legislation or regulation that explicitly addresses stablecoins as a distinct as...
Guyana currently has no specific legislation or regulation that explicitly addresses stablecoins as a distinct asset class Bank of Guyana Publications
The Bank of Guyana has not issued any specific policy statement confirming the classification of stablecoins as e-mon...
The Bank of Guyana has not issued any specific policy statement confirming the classification of stablecoins as e-money or payment tokens Bank of Guyana Publications
As of April 2026, Guyana's legal framework does not distinguish between different types of stablecoins (e.g., fiat-co...
As of April 2026, Guyana's legal framework does not distinguish between different types of stablecoins (e.g., fiat-collateralized, crypto-collateralized, algorithmic) Bank of Guyana Publications
Stablecoins intended for payments, denominated in fiat currency (like GYD or USD), and redeemable at par would most l...
Stablecoins intended for payments, denominated in fiat currency (like GYD or USD), and redeemable at par would most likely be classified as e-money or payment tokens under existing laws Bank of Guyana Publications
The legislative basis for this classification is the National Payment System Act 2018 (Act No. 3 of 2018) , which...
The legislative basis for this classification is the National Payment System Act 2018 (Act No. 3 of 2018) , which empowers the Bank of Guyana to regulate payment systems and electronic money Bank of Guyana Publications
The Act's definitions of "electronic money" and "payment instruments" could potentially encompass stablecoins, though...
The Act's definitions of "electronic money" and "payment instruments" could potentially encompass stablecoins, though no official confirmation exists Bank of Guyana Publications
If a stablecoin offers investment-like features, promises returns, or is structured as a share or debt instrument, it...
If a stablecoin offers investment-like features, promises returns, or is structured as a share or debt instrument, it could potentially be classified as a security under the Securities Industry Act 1998 (Cap. 83:02) Bank of Guyana Publications
The claim that "most stablecoins are designed to avoid this classification" is a general observation about the global...
The claim that "most stablecoins are designed to avoid this classification" is a general observation about the global stablecoin market and is not derived from Guyanese law or regulatory guidance Bank of Guyana Publications
Without specific classification, stablecoins might simply be treated as an unregulated digital asset, subject onl...
Without specific classification, stablecoins might simply be treated as an unregulated digital asset, subject only to general AML/CFT laws Bank of Guyana Publications
The applicable legislation for AML/CFT is the Anti-Money Laundering and Countering the Financing of Terrorism Act 2...
The applicable legislation for AML/CFT is the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009 (as amended) Bank of Guyana Publications
No specific stablecoin reserve requirements exist in Guyana's current legal framework Bank of Guyana Publications
No specific stablecoin reserve requirements exist in Guyana's current legal framework Bank of Guyana Publications
Potential requirements that could be imposed include: safeguarding customer funds, holding reserves in low-risk asset...
Potential requirements that could be imposed include: safeguarding customer funds, holding reserves in low-risk assets (e.g., central bank deposits, government securities), and segregation of client funds from operational funds Bank of Guyana Publications
The National Payment System Act 2018 states that reserves must be held in "types of assets specified by the Bank" (Se...
The National Payment System Act 2018 states that reserves must be held in "types of assets specified by the Bank" (Section 17(2)(b) wording) Bank of Guyana Publications
The specifics of reserve requirements, safeguarding, and segregation would be detailed in regulations or directives i...
The specifics of reserve requirements, safeguarding, and segregation would be detailed in regulations or directives issued by the Bank of Guyana under the powers granted by the Act Bank of Guyana Publications
No specific stablecoin issuer license exists in Guyana Bank of Guyana Publications
No specific stablecoin issuer license exists in Guyana Bank of Guyana Publications
The Act specifies requirements for licensing, including capital adequacy, governance, and operational standards Bank ...
The Act specifies requirements for licensing, including capital adequacy, governance, and operational standards Bank of Guyana Publications
This redemption obligation would be a contractual obligation between the issuer and the holder, and potentially super...
This redemption obligation would be a contractual obligation between the issuer and the holder, and potentially supervised by the Bank of Guyana if the issuer is a licensed payment service provider Bank of Guyana Publications
The legal framework does not distinguish between different types of stablecoins Bank of Guyana Publications
The legal framework does not distinguish between different types of stablecoins Bank of Guyana Publications
The Bank of Guyana has been engaged in discussions and research regarding the implementation of an "e-GYD" or similar...
The Bank of Guyana has been engaged in discussions and research regarding the implementation of an "e-GYD" or similar digital Guyanese Dollar Bank of Guyana Publications
The Bank of Guyana's Annual Reports and Financial Sector Supervision Reports often contain discussions on digital cur...
The Bank of Guyana's Annual Reports and Financial Sector Supervision Reports often contain discussions on digital currencies and the exploration of a CBDC Bank of Guyana Publications
The Bank of Guyana, consistent with many central banks exploring CBDCs, would likely view private stablecoins with ca...
The Bank of Guyana, consistent with many central banks exploring CBDCs, would likely view private stablecoins with caution, especially if they are not robustly regulated Bank of Guyana Publications
The BoG's focus would be on promoting its own CBDC as a safe, sovereign, and regulated alternative for digital paymen...
The BoG's focus would be on promoting its own CBDC as a safe, sovereign, and regulated alternative for digital payments and money Bank of Guyana Publications
Private stablecoins might be seen as potential competitors to monetary sovereignty or as posing systemic risks if the...
Private stablecoins might be seen as potential competitors to monetary sovereignty or as posing systemic risks if they gain significant traction without adequate oversight Bank of Guyana Publications
The specific provisions of the National Payment System Act 2018 regarding reserve requirements reference "types of as...
The specific provisions of the National Payment System Act 2018 regarding reserve requirements reference "types of assets specified by the Bank" (Section 17(2)(b)), but standard international practice would include government securities and cash Bank of Guyana Publications
Bank of Guyana Official Website - Annual Reports and Publications — Primary source for Guyana's financial regulatory ...
Bank of Guyana Official Website - Annual Reports and Publications — Primary source for Guyana's financial regulatory framework, including the National Payment System Act 2018, Securities Industry Act 1998, Financial Institutions Act 1995, AML/CFT Act 2009, and CBDC developments
Corporate Income Tax Rate: The general corporate income tax rate in Guyana is 25%, with higher rates applying...
Corporate Income Tax Rate: The general corporate income tax rate in Guyana is 25%, with higher rates applying to specific sectors like commercial banks and telephone companies Guyana Revenue Authority Official Website
Hong Kong has implemented the FATF Travel Rule through amendments to the Anti-Money Laundering and Counter-Terrorist ...
Hong Kong has implemented the FATF Travel Rule through amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), requiring VASPs to collect and share originator and beneficiary information for virtual asset transfers HKMA Main Page
The Japanese Financial Services Agency (FSA) list of compliant jurisdictions includes Hong Kong for reciprocal Travel...
The Japanese Financial Services Agency (FSA) list of compliant jurisdictions includes Hong Kong for reciprocal Travel Rule enforcement Japanese FSA
SFC - AML/CTF Amendment Ordinance
SFC - AML/CTF Amendment Ordinance
Honduras's Financial Intelligence Unit (UIF-HN), operating under the National Commission of Banks and Insurance (CNBS...
Honduras's Financial Intelligence Unit (UIF-HN), operating under the National Commission of Banks and Insurance (CNBS), oversees AML/CFT compliance for financial institutions as mandated by the Ley Contra el Lavado de Activos y Financiamiento del Terrorismo Decreto No. 144-2014. This law aligns with FATF Recommendations 6 and 7 on targeted financial sanctions related to terrorism and proliferation financing FATF Recommendations.
The UIF-HN requires regulated entities to implement Know Your Customer (KYC) and Customer Due Diligence (CDD) procedu...
The UIF-HN requires regulated entities to implement Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures, including identification and verification of customers and beneficial owners FATF Guidance. Sanctions screening must cover the UN Security Council Consolidated List, OFAC's SDN List, EU Consolidated Sanctions List, and any domestic lists implementing UN sanctions FATF Recommendations.
Transaction monitoring and adverse media screening are mandatory to detect patterns of sanctions evasion or illicit a...
Transaction monitoring and adverse media screening are mandatory to detect patterns of sanctions evasion or illicit activities FATF Recommendations. Honduras has adopted these international standards as part of its commitment to FATF mutual evaluation compliance FATF Evaluation.
The BCH's official communication explicitly prohibits financial institutions supervised by the CNBS from holding, inv...
The BCH's official communication explicitly prohibits financial institutions supervised by the CNBS from holding, investing in, or facilitating transactions with virtual assets BCH Comunicado. This prohibition extends to all traditional banks and regulated financial entities, effectively barring them from any cryptocurrency-related activities.
Enforcement actions under the Ley Contra el Lavado de Activos (Decreto No. 144-2014) include fines, license revocat...
Enforcement actions under the Ley Contra el Lavado de Activos (Decreto No. 144-2014) include fines, license revocations, and criminal penalties for non-compliance with AML/CFT obligations FATF Recommendations. The UIF-HN has the authority to investigate suspicious transactions and impose sanctions on regulated entities.
As of April 2026, no new legislation or regulations have been publicly announced that would alter the existing crypto...
As of April 2026, no new legislation or regulations have been publicly announced that would alter the existing crypto prohibition or AML/CFT framework in Honduras. The BCH Resolution No. 477/2024 remains the most current binding regulation on crypto-assets for regulated financial institutions El Heraldo.
Sanctions screening lists: Confirmed. Honduras requires screening against UN, OFAC, EU, and domestic sanctions li...
Sanctions screening lists: Confirmed. Honduras requires screening against UN, OFAC, EU, and domestic sanctions lists FATF Recommendations.
FATF Recommendations 6 and 7: Confirmed. These are the specific recommendations on targeted financial sanctions f...
FATF Recommendations 6 and 7: Confirmed. These are the specific recommendations on targeted financial sanctions for terrorism and proliferation financing FATF Recommendations.
UN Security Council Resolutions as legal basis: Confirmed. UN Security Council resolutions under Chapter VII are ...
UN Security Council Resolutions as legal basis: Confirmed. UN Security Council resolutions under Chapter VII are legally binding on all UN member states, including Honduras UN Sanctions.
The BCH communiqué does not discuss or mention Central Bank Digital Currency (CBDC); its focus is exclusively on clar...
The BCH communiqué does not discuss or mention Central Bank Digital Currency (CBDC); its focus is exclusively on clarifying the BCH's stance against private cryptocurrencies Reuters
As of the latest available information, Honduras has not publicly announced any concrete plans or studies for a CBDC ...
As of the latest available information, Honduras has not publicly announced any concrete plans or studies for a CBDC that would interact with or be impacted by its current stance on private digital assets Reuters
There is no specific licensing regime for stablecoin issuers in Honduras. Given the BCH's stance, any entity seek...
There is no specific licensing regime for stablecoin issuers in Honduras. Given the BCH's stance, any entity seeking to issue or operate with stablecoins does so outside the regulated financial system, as regulated financial institutions are prohibited from engaging with them Reuters
The lack of a licensing regime and reserve requirements means that stablecoin issuers targeting Honduran users face n...
The lack of a licensing regime and reserve requirements means that stablecoin issuers targeting Honduran users face no specific local compliance obligations, but also receive no regulatory clarity or access to the formal banking system Reuters
Reuters - Honduras central bank says cryptocurrencies not legal tender
Reuters - Honduras central bank says cryptocurrencies not legal tender
The SAR has published no official guidance or ruling on cryptocurrency taxation as of April 2026, creating significan...
The SAR has published no official guidance or ruling on cryptocurrency taxation as of April 2026, creating significant legal uncertainty SAR Legal Resources
If SAR were to interpret cryptocurrency as "property" or "asset," gains from its sale or exchange could be subject to...
If SAR were to interpret cryptocurrency as "property" or "asset," gains from its sale or exchange could be subject to the general income tax framework under Article 2 of the Income Tax Law, which defines taxable income broadly IR Law Article 2 - SAR
All income and gains must be converted to Honduran Lempiras (HNL) using the official exchange rate published by the B...
All income and gains must be converted to Honduran Lempiras (HNL) using the official exchange rate published by the BCH on the realization date BCH Exchange Rate
Failure to report taxable crypto income could result in penalties under the Tax Code (Código Tributario): fines of 25...
Failure to report taxable crypto income could result in penalties under the Tax Code (Código Tributario): fines of 25% to 100% of the omitted tax, plus interest at the legal rate (currently 1.25% monthly) Código Tributario Penalties - SAR
Late filing penalty is 5% of the tax due per month, up to a maximum of 100% of the tax Código Tributario Article 126 ...
Late filing penalty is 5% of the tax due per month, up to a maximum of 100% of the tax Código Tributario Article 126 - SAR
The SAR has not publicly announced any audits specifically targeting cryptocurrency transactions; however, the agency...
The SAR has not publicly announced any audits specifically targeting cryptocurrency transactions; however, the agency maintains general audit authority under Articles 140-145 of the Tax Code SAR Audit Procedures
In July 2025, the Honduran Congress debated a proposed "Ley de Activos Virtuales" (Virtual Assets Law) that would cre...
In July 2025, the Honduran Congress debated a proposed "Ley de Activos Virtuales" (Virtual Assets Law) that would create a licensing framework for crypto exchanges and define tax treatment; the bill was referred to committee and has not passed as of April 2026 Honduras Congress Bill 2025-078
The BCH issued a new communication in January 2026 reiterating that cryptocurrencies remain unregulated and warning u...
The BCH issued a new communication in January 2026 reiterating that cryptocurrencies remain unregulated and warning users of risks, but did not comment on taxation BCH January 2026 Communique
In March 2026, the SAR published its annual tax reform proposal (Proyecto de Ley de Actualización Tributaria), which ...
In March 2026, the SAR published its annual tax reform proposal (Proyecto de Ley de Actualización Tributaria), which does not include specific crypto tax provisions SAR Tax Reform Proposal 2026
Honduras's Progress Report for the Latin American Tax Administration Forum (CIAT) in 2025 confirmed no crypto-specifi...
Honduras's Progress Report for the Latin American Tax Administration Forum (CIAT) in 2025 confirmed no crypto-specific tax rules have been implemented CIAT Report Honduras 2025
The Banco Central de Honduras (BCH) has issued statements on the legal status of cryptocurrencies BCH Official Site
The Banco Central de Honduras (BCH) has issued statements on the legal status of cryptocurrencies BCH Official Site
The Honduran Congress legislative portal tracks proposed laws Congress Law Database
The Honduran Congress legislative portal tracks proposed laws Congress Law Database
The 2021 GAFILAT Mutual Evaluation Report (MER) confirmed that Honduras had not established a specific regulatory fra...
The 2021 GAFILAT Mutual Evaluation Report (MER) confirmed that Honduras had not established a specific regulatory framework for virtual assets or Virtual Asset Service Providers (VASPs) as of December 2021 GAFILAT MER Honduras 2021
The general Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) framework (Ley Contra el Lavado de Activo...
The general Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) framework (Ley Contra el Lavado de Activos y Financiamiento del Terrorismo) exists but does not explicitly define or regulate VASPs CNBS Honduras
As of 2026, no legislative proposal or reform timeline has been publicly announced to address VASP regulation or Trav...
As of 2026, no legislative proposal or reform timeline has been publicly announced to address VASP regulation or Travel Rule implementation in Honduras GAFILAT Follow-Up Reports
Not applicable. Since a comprehensive regulatory framework for VASPs and the specific implementation of the Trave...
Not applicable. Since a comprehensive regulatory framework for VASPs and the specific implementation of the Travel Rule are not yet in place, there is no effective date for these requirements GAFILAT Report
Not defined for VASPs. There are no established threshold amounts for the Travel Rule. For traditional wire trans...
Not defined for VASPs. There are no established threshold amounts for the Travel Rule. For traditional wire transfers, FATF Recommendation 16 suggests a threshold of USD/EUR 1,000 for transfers requiring originator and beneficiary information, but this has not been applied to virtual asset transfers in Honduras FATF Recommendation 16
No VASPs explicitly covered. As virtual assets and VASPs are not specifically defined or regulated under Honduran...
No VASPs explicitly covered. As virtual assets and VASPs are not specifically defined or regulated under Honduran AML/CFT laws, no specific types of VASPs are currently covered by Travel Rule obligations GAFILAT MER
No technical implementation requirements defined. Without a regulatory framework, there are no technical implemen...
No technical implementation requirements defined. Without a regulatory framework, there are no technical implementation requirements for the Travel Rule in Honduras GAFILAT Report
Not specifically applicable to VASP Travel Rule non-compliance. While Honduras has a general AML/CFT law, penalti...
Not specifically applicable to VASP Travel Rule non-compliance. While Honduras has a general AML/CFT law, penalties for non-compliance with the Travel Rule specifically for VASPs do not exist as the rule itself is not implemented for them GAFILAT Report
The report explicitly addresses the lack of a regulatory framework for virtual assets and VASPs, stating that Hondura...
The report explicitly addresses the lack of a regulatory framework for virtual assets and VASPs, stating that Honduras needs to define and regulate VASPs, subject them to AML/CFT obligations, and supervise them effectively GAFILAT MER Honduras
The fundamental AML/CFT legislation is the Ley Contra el Lavado de Activos y Financiamiento del Terrorismo, administe...
The fundamental AML/CFT legislation is the Ley Contra el Lavado de Activos y Financiamiento del Terrorismo, administered by the Comisión Nacional de Bancos y Seguros (CNBS) CNBS Honduras
The Central Bank of Honduras has issued warnings about crypto risks but has not conducted formal market studies Banco...
The Central Bank of Honduras has issued warnings about crypto risks but has not conducted formal market studies Banco Central de Honduras
Civil society organizations have called for regulatory clarity, but no concrete government action has been announced ...
Civil society organizations have called for regulatory clarity, but no concrete government action has been announced Honduras Financial Intelligence Unit
Comisión Nacional de Bancos y Seguros (CNBS) Honduras
Comisión Nacional de Bancos y Seguros (CNBS) Honduras
Penalty Amount: None - this was a public advisory/warning only Cryptopotato Report
Penalty Amount: None - this was a public advisory/warning only Cryptopotato Report
Status as of 27 April 2026: The UN sanctions regime under Resolution 2753 has expired (15 October 2025). Availabl...
Status as of 27 April 2026: The UN sanctions regime under Resolution 2753 has expired (15 October 2025). Available public records do not show a subsequent renewal resolution passed before this date UN Document N2263332
UN Sanctions Committee (Haiti Committee): Established under Resolution 2653 to designate individuals and entities...
UN Sanctions Committee (Haiti Committee): Established under Resolution 2653 to designate individuals and entities and oversee implementation UN Haiti Sanctions Committee
Haiti Domestic Enforcement: Haiti's domestic laws outline penalties for failing to comply with UN Security Counci...
Haiti Domestic Enforcement: Haiti's domestic laws outline penalties for failing to comply with UN Security Council resolutions, typically involving fines and imprisonment, although specific precedents are rare due to nascent regulatory environment UN Document N2263332
US Sanctions are Distinct: OFAC can designate individuals not on the UN list, targeting broader criteria includin...
US Sanctions are Distinct: OFAC can designate individuals not on the UN list, targeting broader criteria including corruption and specific human rights abuses with secondary sanctions implications OFAC Haiti Sanctions Program
EU Autonomous Designations: EU may adopt additional autonomous designations mirroring or expanding upon UN/OFAC d...
EU Autonomous Designations: EU may adopt additional autonomous designations mirroring or expanding upon UN/OFAC designations EU Sanctions Map
EU VASP Compliance: VASPs operating in EU must screen against EU Consolidated Sanctions List including Haiti desi...
EU VASP Compliance: VASPs operating in EU must screen against EU Consolidated Sanctions List including Haiti designations EU Consolidated Sanctions List
Global Screening Lists: For VASPs globally, compliance requires screening against the UN Consolidated Sanctions L...
Global Screening Lists: For VASPs globally, compliance requires screening against the UN Consolidated Sanctions List, the OFAC SDN List (which includes Haiti-specific designations), and the EU Consolidated Sanctions List UN Document N2263332
Haiti's Primary Obligation: Implementing the UN Haiti Sanctions List under Resolution 2653 - Haiti does not have ...
Haiti's Primary Obligation: Implementing the UN Haiti Sanctions List under Resolution 2653 - Haiti does not have a domestic crypto-specific sanctions list UN Security Council Sanctions
Practical Challenges: UN sanctions aim to reduce gang violence, disrupt illicit financing, and support political ...
Practical Challenges: UN sanctions aim to reduce gang violence, disrupt illicit financing, and support political stability; however, implementation challenges include weak state institutions, limited enforcement capacity, and political instability UN Document S/2024/123
Focus on Broader Financial Stability: Haiti's enforcement focus appears to be on broader financial stability and ...
Focus on Broader Financial Stability: Haiti's enforcement focus appears to be on broader financial stability and anti-money laundering (AML) efforts, rather than specific crypto regulations Cryptopotato Report
Taxation Practicality: For infrequent, small-scale transactions by individuals, enforcement might be challenging,...
Taxation Practicality: For infrequent, small-scale transactions by individuals, enforcement might be challenging, but legally the potential for taxation exists DGI Haiti
VASP Comprehensive Sanctions: VASPs must also avoid facilitating transactions for comprehensively sanctioned juri...
VASP Comprehensive Sanctions: VASPs must also avoid facilitating transactions for comprehensively sanctioned jurisdictions (Iran, North Korea, Syria, Cuba, Crimea) regardless of Haiti link OFAC Sanctions Programs
UN Document N2263332 - Haiti Sanctions Resolutions
UN Document N2263332 - Haiti Sanctions Resolutions
31 CFR Part 501 - Blocked Property Reporting
31 CFR Part 501 - Blocked Property Reporting
No. Haiti has not yet adopted a comprehensive legal and regulatory framework specifically governing Virtual Asset...
No. Haiti has not yet adopted a comprehensive legal and regulatory framework specifically governing Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs), including the FATF Travel Rule. The existing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) laws do not explicitly cover VASPs CFATF Haiti Mutual Evaluation
Not defined, as the regulatory framework is not in place. The FATF Travel Rule typically applies to transactions ...
Not defined, as the regulatory framework is not in place. The FATF Travel Rule typically applies to transactions above a de minimis threshold (e.g., USD/EUR 1,000), but no such threshold has been established in Haiti FATF Recommendation 16 Standards
Not legally defined or explicitly covered under existing Haitian law. While the FATF definition of a VASP would c...
Not legally defined or explicitly covered under existing Haitian law. While the FATF definition of a VASP would conceptually apply (any natural or legal person who, as a business, conducts one or more of the following activities or operations for or on behalf of another natural or legal person: exchange between VAs and fiat currencies; exchange between one or more forms of VAs; transfer of VAs; safekeeping and/or administration of VAs or instruments enabling control over VAs; and participation in and provision of financial services related to an issuer's offer and/or sale of a VA), these entities are not yet subject to specific AML/CFT obligations in Haiti CFATF Technical Compliance Re-Rating
As of April 2026, there is no public evidence of significant VASP market activity or registration attempts in Haiti, ...
As of April 2026, there is no public evidence of significant VASP market activity or registration attempts in Haiti, consistent with the complete lack of regulatory framework Forbes SpaceX IPO
Brazil's recent requirement for banks to verify satellite deforestation data before rural credit approval (as of earl...
Brazil's recent requirement for banks to verify satellite deforestation data before rural credit approval (as of early 2026) exemplifies the broader Latin American trend of enhanced financial regulation, contrasting with Haiti's regulatory vacuum Brazil Banks Deforestation Verification
The EU sanctions framework prohibits making funds and economic resources available, directly or indirectly, to desi...
The EU sanctions framework prohibits making funds and economic resources available, directly or indirectly, to designated persons, entities, or bodies. This prohibition extends to all types of assets and services under EU jurisdiction EU Sanctions Map
VASPs must immediately freeze virtual assets held by or on behalf of designated persons and report this to the co...
VASPs must immediately freeze virtual assets held by or on behalf of designated persons and report this to the competent authorities. In Hungary, the primary reporting authorities include the Hungarian National Bank (MNB) and the National Tax and Customs Administration (NAV), depending on the specific reporting requirement EU Sanctions Map
The prohibition on making funds/economic resources available applies comprehensively to all EU sanctions regimes ...
The prohibition on making funds/economic resources available applies comprehensively to all EU sanctions regimes and covers any action that would enable a designated person to benefit from assets, including virtual assets EU Sanctions Map
VASPs are prohibited from directly or indirectly making any virtual assets or related services available to, or f...
VASPs are prohibited from directly or indirectly making any virtual assets or related services available to, or for the benefit of, sanctioned individuals or entities. This applies to all transactions, including transfers, exchanges, or facilitation of access to virtual assets EU Sanctions Map
Mandatory screening procedures: VASPs in Hungary must implement robust screening procedures for all customers (du...
Mandatory screening procedures: VASPs in Hungary must implement robust screening procedures for all customers (during onboarding and ongoing monitoring) and transactions against EU sanctions lists EU Sanctions Map
VASPs must regularly check their customer base and transaction parties against the EU's consolidated list of person...
VASPs must regularly check their customer base and transaction parties against the EU's consolidated list of persons, groups, and entities subject to EU financial sanctions. This list is updated frequently EU Sanctions Map - Consolidated List
Due to the dynamic nature of crypto transactions and sanctions lists, automated screening tools are highly recommen...
Due to the dynamic nature of crypto transactions and sanctions lists, automated screening tools are highly recommended for VASPs to maintain effective compliance EU Sanctions Map
EUR-Lex serves as the official source for EU legislation, including specific Council Regulations implementing san...
EUR-Lex serves as the official source for EU legislation, including specific Council Regulations implementing sanctions EUR-Lex
The EU Sanctions Map provides an overview of current EU sanctions regimes at https://www.sanctionsmap.eu/ EU Sanc...
The EU Sanctions Map provides an overview of current EU sanctions regimes at https://www.sanctionsmap.eu/ EU Sanctions Map
The Consolidated Financial Sanctions List is accessible via the EU Sanctions Map or specific Council Decisions EU...
The Consolidated Financial Sanctions List is accessible via the EU Sanctions Map or specific Council Decisions EU Sanctions Map - Consolidated List
VASPs must adhere to UN sanctions measures, including screening against the UN Consolidated Sanctions List UN Sec...
VASPs must adhere to UN sanctions measures, including screening against the UN Consolidated Sanctions List UN Security Council Resolutions
The UN Security Council Consolidated List is available at https://www.un.org/sc/suborg/en/sanctions/un-sc-consoli...
The UN Security Council Consolidated List is available at https://www.un.org/sc/suborg/en/sanctions/un-sc-consolidated-list UN Consolidated List
International banks often comply with OFAC (Office of Foreign Assets Control), and a VASP failing to do so might ...
International banks often comply with OFAC (Office of Foreign Assets Control), and a VASP failing to do so might be de-risked by correspondent banks OFAC Sanctions Programs
Reputational damage from being associated with OFAC violations can harm a VASP's reputation significantly OFAC Sa...
Reputational damage from being associated with OFAC violations can harm a VASP's reputation significantly OFAC Sanctions Programs
In some cases, OFAC can impose secondary sanctions on non-U.S. persons dealing with sanctioned entities, creating...
In some cases, OFAC can impose secondary sanctions on non-U.S. persons dealing with sanctioned entities, creating extraterritorial risk for Hungarian VASPs OFAC Sanctions Programs
The OFAC SDN List is available at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sancti...
The OFAC SDN List is available at https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information/specially-designated-nationals-and-blocked-persons-list-sdn-human-readable-lists OFAC SDN List
Under Act LIII of 2017, VASPs are defined as "service providers for virtual asset-related activities" and are sub...
Under Act LIII of 2017, VASPs are defined as "service providers for virtual asset-related activities" and are subject to the same AML/CFT obligations as traditional financial institutions Hungarian National Legal Database - Act LIII of 2017
VASPs must implement a risk-based approach to identify and mitigate ML/TF risks, including sanctions risks Hungar...
VASPs must implement a risk-based approach to identify and mitigate ML/TF risks, including sanctions risks Hungarian National Legal Database - Act LIII of 2017
The AML law implicitly requires compliance with international sanctions regimes by mandating comprehensive risk man...
The AML law implicitly requires compliance with international sanctions regimes by mandating comprehensive risk management and customer due diligence that encompasses sanctions screening Hungarian National Legal Database - Act LIII of 2017
VASPs must have robust internal policies, procedures, and controls to detect and prevent sanctions violations Hun...
VASPs must have robust internal policies, procedures, and controls to detect and prevent sanctions violations Hungarian National Legal Database - Act LIII of 2017
The Magyar Nemzeti Bank (MNB) is the financial supervisor whose website contains guidance and regulations for fin...
The Magyar Nemzeti Bank (MNB) is the financial supervisor whose website contains guidance and regulations for financial service providers, including VASPs MNB Official Website
The MNB has issued specific guidance regarding virtual asset service providers' compliance obligations, including...
The MNB has issued specific guidance regarding virtual asset service providers' compliance obligations, including sanctions screening requirements MNB - Virtual Asset Guidance
In 2022, the MNB issued Recommendation No. 5/2022 (VIII.14) specifically addressing AML/CFT compliance for virtua...
In 2022, the MNB issued Recommendation No. 5/2022 (VIII.14) specifically addressing AML/CFT compliance for virtual asset service providers, including sanctions screening expectations MNB Recommendation 5/2022
Enforcement actions by the MNB have included fines and license revocations for VASPs failing to meet compliance o...
Enforcement actions by the MNB have included fines and license revocations for VASPs failing to meet compliance obligations, though specific sanctions-related enforcement cases are not publicly detailed in English-language sources MNB Enforcement
Courts are increasingly imposing monetary sanctions for AI hallucination-related errors in legal filings, which h...
Courts are increasingly imposing monetary sanctions for AI hallucination-related errors in legal filings, which has relevance for VASPs using AI-based screening tools that may produce false negatives Law.com - Monetary Sanctions for AI Hallucinations
A 2026 New Jersey case involved sanctions for a managing attorney due to miscommunication and briefing errors, hi...
A 2026 New Jersey case involved sanctions for a managing attorney due to miscommunication and briefing errors, highlighting the legal profession's increasing scrutiny of accuracy in compliance-related documentation Law.com - Miscommunication Leads to Sanctions
Automated compliance solutions are becoming increasingly critical as sanctions lists grow more complex and transa...
Automated compliance solutions are becoming increasingly critical as sanctions lists grow more complex and transaction volumes increase in the crypto space EU Sanctions Map
Magyar Nemzeti Bank (MNB - Hungarian National Bank) is the central bank and primary financial supervisory authori...
Magyar Nemzeti Bank (MNB - Hungarian National Bank) is the central bank and primary financial supervisory authority in Hungary, responsible for overseeing financial institutions and designated as the competent authority for MiCA implementation MNB Official Site
Cryptocurrency buying, selling, and holding is legal but regulated in Hungary; no ban exists MNB Legal Status
Cryptocurrency buying, selling, and holding is legal but regulated in Hungary; no ban exists MNB Legal Status
Overseas or non-approved exchanges carry a 1% rate (increased from 0.2%) under the same regulatory framework ...
Overseas or non-approved exchanges carry a 1% rate (increased from 0.2%) under the same regulatory framework PwC Tax Flash
Individuals/sellers on approved exchanges: Exchanges collect/remit 0.21% PPh; if the exchange fails or for limite...
Individuals/sellers on approved exchanges: Exchanges collect/remit 0.21% PPh; if the exchange fails or for limited-service/foreign platforms, self-remit/report via Unification Monthly Income Tax Return. Thresholds apply for foreign platforms with Indonesian users/transactions PwC Tax Flash
Residents need a tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax...
Residents need a tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax if from a tax treaty country (with domicile certificate) PwC Tax Flash
No dedicated stablecoin law as of April 2026. Ongoing efforts via National Crypto Strategy Committee (interim rep...
No dedicated stablecoin law as of April 2026. Ongoing efforts via National Crypto Strategy Committee (interim report 2025, potential 2026 legislation) and 2024 Financial Services Law amendments enabling crypto oversight by BOI, ISA, and others. Barnea Law - Crypto Regulation Review and Bank of Israel - Stablecoin Principles
The "CMISA" reference in fact intel.for-financial-asset-service-provider-fasp-licensing-cmisa appears to erroneousl...
The "CMISA" reference in fact intel.for-financial-asset-service-provider-fasp-licensing-cmisa appears to erroneously reference China (People's Bank of China, CBIRC) rather than Israel. Israel's CMISA (Capital Market, Insurance and Savings Authority) is a domestic Israeli regulator under the Ministry of Finance, not related to Chinese regulatory bodies. The collaborative relationships referenced (with PBOC, CBIRC) likely pertain to China's regulatory framework, not Israel's.
Bank of Israel - Stablecoin Principles
Bank of Israel - Stablecoin Principles
Reporting entities are defined under Section 5 of the AML/CTF Act and include: banks, credit unions, building socie...
Reporting entities are defined under Section 5 of the AML/CTF Act and include: banks, credit unions, building societies, financial planners, superannuation funds, remittance service providers, digital currency exchanges (since 2018), gambling service providers (casinos, wagering, lotteries), bullion dealers, and lawyers/accountants when providing designated services AUSTRAC - Designated Services.
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2022 received Royal Assent on 12 Septem...
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2022 received Royal Assent on 12 September 2022, but its provisions commenced in stages:
Civil penalties under Section 175 of the AML/CTF Act: A corporation can face a maximum penalty of the greater o...
Civil penalties under Section 175 of the AML/CTF Act: A corporation can face a maximum penalty of the greater of 10,000 penalty units (AU$2,200,000 as of 1 July 2024, with one penalty unit = AU$220) OR three times the benefit derived from the contravention, OR if the benefit cannot be determined, 10% of the corporation's annual turnover for the previous 12 months AUSTRAC - Penalties and Offences.
Criminal penalties for individuals: Imprisonment for up to 10 years for serious offences (e.g., money launder...
Criminal penalties for individuals: Imprisonment for up to 10 years for serious offences (e.g., money laundering under the Criminal Code, Cth). Criminal fines can also apply under the AML/CTF Act, with maximum penalties of 5,000 penalty units (AU$1,100,000) for individuals Criminal Code Act 1995 - Division 400.
Enforcement data (2019–2024):
Enforcement data (2019–2024):
In August 2023, AUSTRAC published new guidance on digital currency exchange (DCX) obligations, clarifying tha...
In August 2023, AUSTRAC published new guidance on digital currency exchange (DCX) obligations, clarifying that DCXs must verify customer identity before transactions and that all wallet addresses used by customers to transfer funds exceeding AU$1,000 must be recorded AUSTRAC - DCX Guidance 2023.
The FCA's Policy Statement PS23/13, published on 4 September 2023, confirms that custody of cryptoassets will become ...
The FCA's Policy Statement PS23/13, published on 4 September 2023, confirms that custody of cryptoassets will become a "designated activity" requiring FCA authorisation, with implementation phases starting from January 2025 FCA PS23/13
The FCA's "Cryptoassets: Custody and Client Assets" regime, proposed in CP23/10 (May 2023), requires firms to maintai...
The FCA's "Cryptoassets: Custody and Client Assets" regime, proposed in CP23/10 (May 2023), requires firms to maintain clear legal segregation of client cryptoassets from firm assets, with specific rules on private key management and safekeeping FCA CP23/10
Under the proposed regime, custodians must implement "dual control" systems for private key access, with at least two...
Under the proposed regime, custodians must implement "dual control" systems for private key access, with at least two authorised personnel required for any signing or transfer operation, enforced from 2025 FCA CP23/10 Annex 1
The Ministry of External Relations coordinates sanctions implementation and reporting to the UN Ministry of External ...
The Ministry of External Relations coordinates sanctions implementation and reporting to the UN Ministry of External Relations
Penalties for non-compliance include fines of up to 1% of annual turnover for legal persons Law 2/20 Article 45
Penalties for non-compliance include fines of up to 1% of annual turnover for legal persons Law 2/20 Article 45
Regional sanctions through the African Union (e.g., against unconstitutional changes of government) are implemented w...
Regional sanctions through the African Union (e.g., against unconstitutional changes of government) are implemented where adopted African Union Peace and Security Council
The BNA issued Circular No. 01/2023 in January 2023, strengthening reporting requirements for frozen assets BNA Circu...
The BNA issued Circular No. 01/2023 in January 2023, strengthening reporting requirements for frozen assets BNA Circular 01/2023
No new domestic sanctions regimes were introduced in 2023-2024 beyond UN obligations Ministry of External Relations
No new domestic sanctions regimes were introduced in 2023-2024 beyond UN obligations Ministry of External Relations
Andorra has not yet implemented a specific national law or regulation formally transposing the FATF Travel Rule (Reco...
Andorra has not yet implemented a specific national law or regulation formally transposing the FATF Travel Rule (Recommendation 16) into domestic legislation as of the latest available official sources. The country is in the process of developing its virtual asset regulatory framework FATF Mutual Evaluation Report Andorra 2022
The FATF evaluated Andorra in 2022 and found that the country had "limited understanding" of virtual asset risks and ...
The FATF evaluated Andorra in 2022 and found that the country had "limited understanding" of virtual asset risks and had not enacted measures for virtual asset service providers (VASPs) FATF MER Andorra 2022 Executive Summary
UAE Central Bank - AML/CFT Supervision
UAE Central Bank - AML/CFT Supervision
UAE Central Bank - AML/CFT Rulebook for Financial Institutions
UAE Central Bank - AML/CFT Rulebook for Financial Institutions
CBUAE Board Decision No. 20 of 2024 - Central Bank of UAE payment token regulation
CBUAE Board Decision No. 20 of 2024 - Central Bank of UAE payment token regulation
ADGM FSRA Crypto Asset Regime - Abu Dhabi Global Market crypto regulatory framework
ADGM FSRA Crypto Asset Regime - Abu Dhabi Global Market crypto regulatory framework
CBUAE Payment Token Regulation Press Release - Central Bank of UAE December 2024 regulation
CBUAE Payment Token Regulation Press Release - Central Bank of UAE December 2024 regulation
The UAE maintains a comprehensive sanctions framework primarily enforced through the Central Bank of the UAE (CBUAE) ...
The UAE maintains a comprehensive sanctions framework primarily enforced through the Central Bank of the UAE (CBUAE) and the UAE Cabinet, aligned with UN Security Council resolutions and domestic counter-terrorism financing obligations CBUAE AML/CFT Laws.
The UAE Cabinet issues binding sanctions lists under Cabinet Resolution No. 74 of 2020 (and subsequent amendments), s...
The UAE Cabinet issues binding sanctions lists under Cabinet Resolution No. 74 of 2020 (and subsequent amendments), specifying designated persons and entities subject to asset freezes and travel bans UAE Cabinet Resolution No. 74/2020.